After ending November with solid 6.2% gains, the TSX Composite started the new month on a slightly negative note as weaker commodity prices weighed on investors’ sentiments despite the release of better-than-expected U.S. manufacturing data. The main Canadian stock market index slipped by 58 points, or 0.2%, on Monday to settle at 25,590.
Even though prospects of strong holiday spending drove consumer stocks higher, heavy losses in some other key sectors like healthcare and mining offset these gains, keeping the broader TSX benchmark in negative territory.
Top TSX Composite movers and active stocks
Shares of Lightspeed Commerce (TSX: LSPD) dived by 8.2% to $24.09 per share, making it the worst-performing TSX stock for the day. This selloff in LSPD stock came after the Montréal-based commerce platform provider announced a strategic reorganization that will result in about 200 job cuts as part of its push for profitable growth.
Lightspeed plans to reinvest the resulting savings into many key areas, like focusing on North American retail as well as hospitality markets in Europe, the Middle East, and Africa. In a press release, the company’s chief executive officer, Dax Dasilva, highlighted the need to simplify operations and strengthen competitive positioning while reaffirming Lightspeed’s fiscal 2025 (which will end in March 2025) financial outlook. After this selloff, LSPD stock now trades with 13.4% year-to-date losses.
Bausch Health Companies, South Bow, and Fortuna Mining were also among the bottom performers on the Toronto Stock Exchange, with each falling by at least 5.5%.
In contrast, Aritzia, Methanex, TransAlta, and Nutrien were the session’s top-performing TSX stocks as they advanced by at least 2.6% each.
According to the exchange’s daily trade volume data, Canadian Natural Resources, Suncor Energy, Enbridge, Manulife Financial, and Toronto-Dominion Bank stood out as the five most active stocks on the exchange.
TSX today
Crude oil, natural gas, and metals prices largely remained mixed in early trading on Tuesday, pointing to a choppy start to today’s trading session for the TSX index.
While no major domestic economic releases are due, Canadian investors will closely monitor the important job openings data from the United States this morning.
On the corporate events front, the TSX-listed Bank of Nova Scotia and Descartes Systems will announce their latest quarterly financial results today, which could keep their stocks in the spotlight.
Market movers on the TSX today
